Goldman Sachs' Q1 Performance Disappoints with Lower Profit and Missed Revenue Estimates.

Goldman Sachs reported a 19% drop in Q1 profit due to sluggish dealmaking and bond trading, as well as a loss on the sale of assets in its consumer business, Marcus. CEO David Solomon said investment banking activity remains muted, and while there are some green shoots emerging, clients remain cautious. The bank's net profit applicable to common shareholders fell to $3.09bn in the quarter, compared with $3.83bn a year earlier. Revenue from fixed income, currency and commodities (FICC) trading plunged 17% to $3.93bn, while equity trading revenue sank 7% to $3.02bn. Goldman is exploring strategic options for its consumer platform business, which has lost about $3bn in three years.